SRG Acquires NW Re: Specialist Risk Group (SRG), a London – based specialist insurance intermediary with majority ownership from Warburg Pincus and Temasek, has announced the purchase of NW Re, a specialist reinsurance firm. The financial details of the deal remain undisclosed.
Strengthening SRG’s Market Commitment: SRG stated that this acquisition bolsters its dedication to the broker and underwriting intermediary market. By investing in specialist underwriting skills and technical expertise, it aims to enhance its offerings. NW Re, founded in 2020 by industry veterans Neil Wallis, Neil Walker, and Tallis Kemp, is a profitable and stable business. It offers property facultative reinsurance and excess of loss insurance for various occupancies including retail, manufacturing, offices, real estate, and leisure.
Team Integration and Future Outlook: The NW Re team will combine with SRG’s underwriting arm, MX. This union supports SRG’s goal of creating a comprehensive specialist underwriting solution hub for its broker partners. SRG views NW Re’s expertise in disciplined, profitable underwriting in the UK property reinsurance market as a perfect fit for MX. Lee Anderson, group deputy CEO of SRG, said, “This deal marks yet another exciting step in the growth of our underwriting pillar, MX. The NW Re team has built a brilliant business that perfectly complements our focus on providing specialist solutions for brokers and their clients.” Neil Wallis of NW Re, based in Sittingbourne, England, said, “We are delighted to be joining Specialist Risk Group and to be working alongside our new colleagues at MX. From the outset, we have always maintained the goal of providing reliable, tailored insurance solutions in the UK market. Partnering with SRG now enables us to bring our expertise to a wider audience and to work within a group that totally shares our commitment to specialty insurance. We look forward to providing even greater value to our broker partners working in partnership with our new colleagues from SRG and the MX team.”
Related topics
